DIB felt Turkey is a great investment destination.

DUBAI, UAE - The Public Debt Management Office (PDMO) of the Government of Dubai's Department of Finance (DOF) announced a reduction of approximately US$7.8 billion (AED29 billion) in Dubai's public debt by the end of this year.The achievement has been realized within a year and a half since the establishment...

Dubai, UAE - UAE and China explored opportunities for the two countries to cooperate and exchange experiences in areas related to labor, human resources development and skills enhancement.A discussion on these issues was held at a meeting between Dr. Abdulrahman Al Awar, UAE's Minister of Human Resources and Emiratization, and...

Dubai, United Arab Emirates - A Pablo Picasso masterpiece expected to fetch at least $120 million at auction went on show Monday in Dubai, kicking off a set of rare viewings outside the United States."Femme a la montre", the 1932 portrait of Marie-Therese Walter, Picasso's mistress and "golden muse", is being...

Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping Centre Development (ISCD) Index for the fourth consecutive year.The city also earned the top rank for sea freight and logistics services in the Arab world, as per the latest report...

This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market.

In a bid to diversify their economies, Middle Eastern nations are turning to the sports industry, marked by significant investments in global tournaments and infrastructure.

Dubai, UAE - The total spending in the UAE's space sector witnessed a 6.61 percent increase compared to the previous year with the government spending accounting for 55.7 percent of the total spending, marking a 12.7 percent increase year-on-year, while commercial expenditure made up 44.3 percent of the total, revealed...

In order to boost trade and investment flows and private-sector collaboration, the UAE and Serbia have begun talks on Comprehensive Economic Partnership Agreement. Once the deal is signed it will improve bilateral non-oil trade by reducing or eliminating customs duties, removing unnecessary barriers to trade.

Dubai, UAE - The UAE's $1.5 billion bond issue saw five times oversubscription, attracting over $7.4 billion in bids, the Ministry of Finance announced on Monday.The 10-year bond, with a yield of 4.917%, will list on the London Stock Exchange and Nasdaq Dubai, maturing in September 2033. The allocation was geographically...

DAE said this is the company's largest ever loan facility.

This would be for the first time that the painting has been exhibited outside of the United States in over 50 years. (Sotheby's)

Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms are playing a crucial role in solidifying Dubai's global real estate prominence, says a report.

DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly expanding bilateral trade and investment ties.The signing ceremony took place during the Hainan Promotion Conference in Dubai, and was attended by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State...

DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during the week ending September 15, 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 549 plots were sold for US$1.1 billion (AED 4.25 billion),...

Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial institutions and corporations with digital infrastructure, enabling them to manage the impacts and risks of climate change.The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S.,...

Vladivostok, Russia -- Russian Post is working on opening a company in the UAE, CEO Mikhail Volkov told TASS in an interview at the Eastern Economic Forum (EEF)."We are currently working on opening of a company in Dubai, the UAE, and are also considering other countries. We as logistical specialists...

Dubai, UAE - Online sales of beauty products in the MENA region experienced significant growth, surpassing global trends In the first half of 2023. According to a press release from Admitad, a partner network, global sales in the beauty and self-care industry increased by more than 15% during this period. However,...

GCC equity markets saw their first decline in three months during August, influenced by global market performance and hawkish Fed policies, says a report.

Dubai, UAE - The UAE government has announced a 2.5 percent payment support to its citizens’ pension contributions through the Nafis program. The subsidy applies specifically to Emirati employees in the private sector and comes with a condition: both the company's information and the employee's data must be regularly updated with...

GCC real estate hits $90.7 billion in the first half of 2023, a 9.9% year-on-year increase, with Dubai leading the market, contributing 54 percent to the total value.

Dubai, United Arab Emirates - The second pilot of a helicopter that crashed off the coast of the United Arab Emirates has been found dead, authorities said Monday, days after he was declared missing.A first pilot was confirmed dead on Friday after the Bell 212 helicopter went down the night before in...

Dubai, UAE – The Dubai Land Department (DLD) reported over 3,200 transactions worth AED 24.7 billion last week and this upwards trend appears to have become a staple of permanence in the emirates’ real estate market.Sales frequency has surged on the heels of investor confidence being renewed amid continued recovery...

Paris, France - A world facing catastrophic climate change is perilously off course in meeting goals for slashing carbon pollution and boosting finance for the developing world, according to the UN's first official progress report out Friday.The 2015 Paris treaty has successfully driven climate action, but "much more is needed now...

The pilots of Bell 212 helicopter -- an Egyptian and a South African -- had been on a training flight for AeroGulf, the UAE's leading commercial helicopter operator. AeroGulf was founded in 1976 to provide services to the oil and gas industry, before expanding its services to other sectors.

DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has expressed readiness to build an economic partnership with the BRICS countries.The Saudi Press Agency said the two sides had discussed various issues at the BRICS summit, where Saudi Arabia was...

International Media Investments owns and operates a portfolio of media outlets.

Dubai, UAE - The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the country. This move has attracted attention, especially considering that gambling has long been illegal in the conservative Gulf region, the UAE news agency WAM reported. Ras Al Khaimah, one of the...

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has pressed into service seven new 132 transmission substations in the first half of 2023, in line with its ongoing efforts to enhance the reliability and availability of the energy transmission system in the Emirate. The projects included 36 kilometres of 132kV ground...

Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN), totaling 34,818 during the first eight months of the current fiscal year.This surge comes amidst heightened market activity following the listing of ten government and semi-government entities, including the Dubai...

GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.

DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration, including the Comprehensive Economic Partnership Agreement (CEPA) with Damien O'Connor, New Zealand's Minister of Trade and Export Growth here.During the meeting, which came as part of a visit to the...

Dubai, UAE - The annual Belt and Road Summit being held on September 13 and 14 in Hong Kong will feature a dedicated session focused on the Middle East, South China Morning Post reported on Thursday. The Belt and Road Initiative, China's ambitious plan to boost international trade and connectivity, encompasses...

Dubai, UAE - The Middle East has seen the strongest rebound in the post-pandemic global tourism recovery, according to a new report from HSBC Global Research.The report, Jet, set, go! shows that the region is unique in recording a total recovery in terms of tourist arrivals in the first quarter...

Dubai, UAE - An airport terminal able to handle up to 45 million passengers a year will open in Abu Dhabi in November, state media said Thursday, accelerating competition in the crowded Gulf market.Terminal A in the oil-rich United Arab Emirates capital, touted as one of the world's biggest, will be...

DUBAI, UAE –   Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market.The UAE, which has an impressive 99% internet penetration rate according to a McKinsey study, welcomes Bitay.This move aligns with the UAE’s growing stature as a global digital hub and its emphasis on...

Dubai's skyline epitomizes modern development, with its appeal bolstered by strong property management and developers capitalizing on increasing sales.

In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly stand out.

In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly stand out.

"Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional alliances very effective," Raisi stressed.

The airline is likely to carry 300m passengers a year by 2034.

DUBAI, UAE - Bahraini authorities have agreed to offer prisoners extra rights, including more visiting hours, following a mass hunger strike that activists say is the largest in the country's history.The interior ministry late on Monday said it would "increase the duration of visitations" and was looking to raise the time...

The partnership aims at enhancing trade infrastructure.

DUBAI, UAE - The global Islamic microfinance industry has surpassed US$60 billion in value within the $3.8 trillion Islamic finance landscape.This achievement highlights the growing recognition of Islamic microfinance as a tool for poverty alleviation. The industry's potential to bridge financial gaps while adhering to Shariah principles positions it as...

Dubai, Riyadh - PureHealth, the largest healthcare group in the Middle East, has entered into an agreement to acquire Circle Health Group, the UK's largest independent operator of hospitals, for a substantial AED 4.41 billion ($1.19 billion). PureHealth's existing roster of companies includes healthcare names such as SEHA – Abu Dhabi...

Cairo, Egypt - Egyptian Minister of International Cooperation Dr. Rania Al Mashat, said the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) is likely to address climate change issue and its effects on countries and people, local media reports said.The UAE will host COP28...

Dubai, UAE -- A total of 3,229 real estate transactions worth over AED 23.1 billion ($6.28 billion) were conducted during the week ending 25th August 2023, according to figures released by the Dubai Land Department (DLD).The DLD report showed that 183 plots were sold for AED 1.33 billion, while 2,361...

Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the end of June 2023. According to the latest data from the Central Bank of the UAE, these deposits experienced a monthly growth rate of 5.8%, equivalent to an increase of...

DUBAI, UAE - The Customs Intelligence Management within Dubai Customs has successfully thwarted two separate attempts to smuggle controlled drugs and restricted medications via air shipments into the country.The total haul amounted to 171,600 pills and these operations underscore the department's resolute stance against illicit activities.In the first operation, a...

Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of the year, a 50 percent jump. According to its operator, the airport, busiest for international passengers before Covid-19, the passenger traffic went well past the number recorded in the first...